"Last week was dominated by powerful gains on the Monday but although that was followed by a setback from the 200 day moving average, losses were gradual and fragile.  In fact price action has since confirmed the formation of an imperfect Rising Three pattern." says Alan.  

Hhe adds that there are three reasons why the upside could develop:

Support from 13 day moving average 

Break of 200 day average

Positive Keltner channel

Buy at 0.7360 and dip to 0.7345

Target: 0.7399 0.7419

Stop: 0.7318